Telenor Pakistan Announces Customer Day 2023 with Visit from Head of Asia

Islamabad, 14 Oct 2023: Telenor Pakistan has revealed plans to mark Customer Day 2023 next week, a celebration highlighting the company's continual commitment to elevating the customer experience. The event will be notably attended by Petter-Borre Furberg, Telenor’s Head of Asia, marking his inaugural visit to Pakistan in this capacity.

With a vast user base exceeding 46 million, Telenor Pakistan values its customers as its principal asset. The forthcoming Customer Day seeks to emphasize the company's unwavering dedication to its customers, with a focus on adapting to their ever-changing needs and preferences. This dedication plays a central role in the broader mission of Telenor Pakistan, which is to empower societies and bridge individuals to the things that are of utmost significance to them.

Throughout the day, an array of activities is planned, all tailored to solidify the robust relationship between Telenor Pakistan and its esteemed customers. Both the management and the entire staff of Telenor will be actively involved, taking to the markets to connect directly with the customers. This outreach aims to comprehend customer experiences, gain insight into their requirements, and address any concerns. All these initiatives are aligned with Telenor Pakistan's persistent efforts towards enhancement and innovation.

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Pakistan streamlining its banking channels to attract remittances from Gulf

DUBAI: The flow of remittances from the Pakistani community in Dubai could increase manifolds through banking channels with the support of financial institutions, the dedicated government scheme, and community developers. Innovative service, incentives, and community building could encourage Pakistani workers in the UAE and Gulf region to utilize banking channels to support their country's economy in challenging times.

These were the views of speakers at the daylong conference "Remitlink23: Resilient Remittances" organized by Dellsons Associate in collaboration with the Embassy of Pakistan in UAE and Foreign Exchange and Remittance Group (FERG), according to a statement released on Saturday.

The event was sponsored by Dubai Islamic Bank, JazzCash, and Instant Cash.

Speaking as the chief guest, Faisal Niaz Tirmzi, Ambassador to Pakistan for UAE, said the UAE is the second largest host country in the world with over 1.6 million Pakistani nationals, and the number of Pakistani professionals coming to different states of this country is on the rise in recent months.

Pakistani professionals and workers in different states of the United Arab Emirates are resourceful, hardworking, and patriotic, having a deep sense of responsibility to serve their homeland through their valuable contribution, including sending remittances through banking channels, he said and added. The government recently took various initiatives to enhance flow of remittances which are expected to increase the use of banking channels among overseas Pakistanis.

Salman Hasan Khan, Head of Priority Banking and PRI Dubai Islamic Bank Pakistan, said the financial institutions played a crucial role in connecting overseas Pakistanis with their relatives in their homeland, but these institutions are working continuously to facilitate the Pakistani diaspora in different states of the UAE.

He pointed out that Pakistanis in different countries prefer Islamic banking mode over the interest-based system, hence, there is a need to promote Sharia-based financial options with innovative technological solutions.

Ibrahim Amin, Chairman Dellsons Associates, said this conference aims to bridge the gap between stakeholders, including Government functionaries, regulators, and service providers such as banks, exchange companies, and fintechs.

He said the remittances from the GCC region have a vital role in shoring up the macroeconomic indicators of the country, including the current account and the stability of the Rupee against foreign currency, hence, overseas Pakistanis and their contributions should be appreciated through facilitation and incentives.

The conference also hosted a panel discussion that explained to the audience the importance of utilizing banking channels for sending remittances to their country and its positive outcomes on their relatives regarding stability in local currency and containing inflation.

Experts from the banking and financial sectors of Pakistan and the UAE also spoke at the conference including Tufail Ahmed Khan, CEO Dellsons Associates, UAE, Osama Al Rahma, Advisor to the board, FERG UAE, Usman bin Raees COO, Instant Cash; Suleman Hasan, Chief Compliance and Risk Officer, 1LINK, Zameer Punjabi, Vice Presidents- Payments and Remittances Mashreq Bank, Omer Farooq, Head of Operations, Cash Express, Shabnam Faqeer, Independent Director, DIB Pakistan and Nominee Director, IFC, World Bank Group and others.

Sunridge Expands its Horizon with Three New Stores

ISLAMABAD: Sunridge Mart, a retail extension of Sunridge Foods has announced the grand opening of three new stores, strategically located to cater to the growing demands of customers.

These three new outlets, all in prime locations of Karachi including Chartered Accountant Avenue Clifton, Dhorajee, and Badar Commercial Phase 6 in DHA, are aimed to provide an exceptional shopping experience that combines delicious bakery products made with the finest Sunridge products and ingredients, along with a wide range of grocery products.

The concept of Sunridge Mart serves as a commitment to promoting healthier lifestyles. As part of its pledge to nutrition, Sunridge is introducing a delectable range of fiber-rich products that will not only entice taste buds but also contribute to a healthy well-being overall for customers. With an emphasis on nutritious and fiber-fit offerings, the company aims to empower customers to make healthier choices and embrace a lifestyle that champions wellness.

Furthermore, the expansion of Sunridge Foods into Sunridge Mart has resulted in the creation of both direct and indirect job opportunities for 3,000+ individuals. The future investment plans of Sunridge also involve a nationwide expansion with the goal of inaugurating 36 outlets, initially focusing on Karachi, Lahore, and Islamabad while later expanding into the suburbs of Punjab and Sindh.

The recently inaugurated Sunridge Mart is spread over an area of 1260 square feet and offers a wide variety of products for customers.

CCP approves acquisition of Coca Cola Pakistan

ISLAMABAD: The Competition Commission of Pakistan (CCP) has granted approval to the acquisition of Coca Cola (Pakistan) under phase-1 review of the Competition Act, 2010, and the Competition (Merger Control) Regulations, 2016.

Coca-Cola cecek (Turkey) acquired 49.67 percent shareholding of Coca Cola (Pakistan) through CCI International Holand (one of its subsidiaries) from Atlantic Industries. The transaction involves total consideration of USD 300 million.

After this transaction, Coca Cola Turkey will own majority of shareholding in Coca Cola (Pakistan) with management. This is significant vote of confidence that Pakistani economy has great potential for above-average returns on their capital for international investors. The Chairman and Mergers team has streamlined, merger system and process to expedite mergers/acquisitions applications to facilitate international investors.

KSE-100 Continues Bullish Trend, Yet Caution is Advised, Says JS Securities Limited

Karachi, 13 Oct 2023: Amidst an optimistic atmosphere, bulls maintained their influence in the market, propelling the KSE-100 index upwards by 297 points to close at 48,772, as per a research report by JS Securities Limited. The report, which analyzes the technical outlook of Pakistan’s market, highlights that despite this favourable performance, there’s an apparent necessity for investors to proceed with caution, particularly as the index is trading above the Upper Bollinger Band. Further potentialities, strategic movements, and specific targets within the stock market have also been outlined, affecting particular entities like HCAR and ENGRO.

The KSE-100 index has displayed a robust performance, with trading volumes registering at 342 million shares, compared to 396 million shares traded in the preceding session. There's an anticipation that the index may revisit its recent high of 48,830, and if it surpasses that, it could aim for 49,344, followed by the 50,178 level. On the contrary, any downturn will likely undergo a trial between 48,470 and 48,660 levels, where a drop below this could spark a corrective trend. Additionally, despite the index trading above the Upper Bollinger Band, the report notes that a short-term pullback within the band might be a possibility. Thus, JS Securities advises investors to maintain a level of caution on the higher side and await potential dips. The identified support and resistance levels for the KSE-100 index stand at 48,477 and 48,948, respectively.

In terms of specific equities, the report gives a 'Buy on dips' strategy for HCAR, with target prices of Rs149.00 and Rs161.03 and a stop-loss at Rs139.09, indicating a movement towards the recent high. ENGRO is also suggested to continue its upside, with the recommendation again being to 'Buy on dips', targeting Rs272.02 and Rs275.00, with a stop-loss firmly placed at Rs260.21. These strategic recommendations offer specific approaches for investors dealing with these securities, aligning with the overall cautious yet opportunistic outlook presented for the broader market.

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Zindigi Partners with Beaconhouse National University to Establish Pakistan’s First Cashless Campus

Islamabad, 13 Oct 2023: Zindigi, operating under the aegis of JS Bank, and Beaconhouse National University (BNU), a foremost non-profit liberal arts university in Pakistan, have forged an innovative partnership with the ambition to launch the nation's first entirely cashless university campus, according to a press release from JS Bank. With a dedication to digitalizing the complete campus experience, the collaboration not only emphasizes financial inclusion and digital empowerment for students but also offers a wide array of digital services.

The partnership pivots toward a full-scale digitalization of the campus life, focusing prominently on augmenting the student experience via an inclusive financial approach and digital empowerment. A multifaceted array of digital services is being extended through this venture, including options for digital bank account initiation, efficient fee payments, varied campus payment options, and establishing a nucleus for financial innovation dubbed the Zindigi Innovation Center. Tailoring its approach to meet the daily financial requirements of BNU students, Zindigi will proffer an exclusively fashioned digital product suite.

JS Bank's President and CEO, Basir Shamsie, conveyed his dedication to modifying the digital payments landscape across Pakistan. “We are particularly focused on revolutionizing financial accessibility for our youth, fostering sustainability, and equipping them for a prosperous future," Shamsie noted.

Expressing enthusiasm over the partnership, Dr Moeed Yousaf, Vice Chancellor of BeaconHouse National University, stated, “We are thrilled to collaborate with Zindigi in the creation of Pakistan's first cashless university campus, bringing forth a transformative digital payment experience for both students and faculty. This perfectly aligns with our mission to foster sustainable communities.”

As Zindigi and Beaconhouse National University move forward with this alliance, they anticipate establishing new standards in digital innovation and financial inclusion across the academic sector in Pakistan.

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Master Changan Motors Initiates Volume Exports with Oshan X7 SUV Shipments to Kenya

Karachi, 13 Oct 2023: Master Changan Motors Limited (MCML), in a joint venture with Changan International, has pioneered as the first Pakistani automaker to commence volume exports, dispatching an inaugural batch of 14 Oshan X7s to Kenya, destined for markets in both Kenya and Tanzania. This follows last year's export of the first sample unit to a country in the Oceania region. The information was disclosed through a press release issued by Master Changan Motors Limited.

Marking the significant step of becoming Pakistan’s maiden volume exporter of technologically sophisticated SUVs - with the ‘Made in Pakistan’ Oshan X7 being the first SUV to be introduced in an international market - this achievement coincides with the 10th-anniversary celebration of the China-Pakistan Economic Corridor (CPEC), symbolizing the profound economic collaboration between Pakistan and China. The Oshan X7 is notable not only for its size, being the largest SUV in its segment, but also for its myriad of features including Adaptive Cruise Control (ACC), Autonomous Emergency Braking (AEB), Forward Collision Warning (FW), and the luxury of heated and vented seats, besides offering a versatile 5/7 seat layout.

An export ceremony hosted in Karachi featured CEO of Master Changan, Mr. Danial Malik, who articulated the company’s visionary stride towards integrating Master Changan into Changan’s global vehicle supply chain under the ‘Vast Ocean Plan’, concurrently positioning Pakistan as a producer and exporter of high-quality vehicles on the global map. "Kenya and Tanzania are among many countries where Master Changan Motors plans to leave its mark as we seek to broaden our export volumes,” added Malik.

Distinguished guests at the ceremony included Mr. Asad Rehman Gilani, Secretary Industries and Production; Mr. Asim Ayaz, General Manager Policy from the Engineering Development Board; Rizwan Bhatti, CEO PIDC; and Asad Altaf, Corporate Head HBL.

In a substantial announcement at the 2023 Shanghai International Automobile Industry Exhibition on 18th April, Mr. Zhu Huarong, Chairman of Changan Automobile, launched the ‘Vast Ocean’ plan. It is a strategy aimed at accelerating the company's international expansion and guiding it toward becoming a global brand by focusing on intelligent low-carbon core technology, with plans to invest US$10 billion in the overseas market. Changan aims to extend its global presence to Europe, America, the Middle East and Africa, the Asia Pacific, and the CIS, intending to penetrate 90% of the global markets by 2030. Master Changan Pakistan is slated to play a pivotal role in Changan's ‘Vast Ocean’ plan by catering to Right Hand Drive (RHD) markets worldwide.

MCML acknowledges that the export of ‘Made in Pakistan’ vehicles hinges on the Federal Government’s policies to encourage and incentivize the automotive industry. Pakistan’s automotive industry has submitted proposals intended to ensure the viability of auto exports in the long run. Malik extended gratitude for the government's auto export policy 2021-2026 and emphasized, "The auto industry needs the government to create policies that increase volumes locally which, in turn, will enhance economies of scale, support deeper localization, and enable automakers to elevate their global competitiveness.”

Additional information and brochure downloads are available at https://www.changan.com.pk/oshan-x7

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